Economists who have studied the Phillips curve have concluded that it can shift due to all of the following EXCEPT
A) demand shocks.
B) supply shocks.
C) changes in household expectations of inflation.
D) changes in firms' expectations of inflation.
A
Economics
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Consider the following:
Farmer Jones bought seed and fertilizer for $100. He grew wheat that he sold to the Acme Bread Company for $200. Acme Bread produced and sold bread to the ABC Grocery Store for $250. Consumers bought the bread from the grocery for $350. How much was added to the GDP? A) $600 B) $800 C) $350 D) $700
Economics
Using the liquidity preference framework, what will happen to interest rates if the Fed increases the money supply?
What will be an ideal response?
Economics